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Cabarrus County Tourism Authority <br />Bullet Points <br />3rd Quarter 2009-2010 <br />Revenue -Based on December -February Hotel Stays <br />^ Total Occupancy Tax Revenues were down to budget $133,310 in the 3rd Qtr <br />and they are down $697,601 YTD. This is primarily due to forecasting of new <br />properties that opened at the end of last fiscal year. <br />^ While Occupancy Percentages have been affected by the total supply <br />increase in the County, Room Demand has seen increases of 29%. <br />Mecklenburg County and the state of North Carolina have only seen <br />increases of 9.9% and 4.5% respectively. <br />^ Total Sports Development Revenue collected through March 31st is <br />$226,070. To date no expenses have been utilized to offset this revenue. <br />Salary and Employee Benefits <br />^ Total Salaries and Benefits were under budget by a combined $85,782 in the <br />3rd Qtr due to the restructure at the Bureau. Only two positions remain open <br />after the Bureau restructure in September 2009. Those positions will not be <br />filled until FY 2010/2011. <br />^ All associated salary and benefit costs are below budget as a result of the <br />restructure. <br />Administration and Operations <br />^ Total Administration and Operating costs were under budget by $2,550 in the <br />3"d Qtr. <br />^ The Bureau completed installation of a new server that will provide a more <br />reliable and improved information exchange. <br />Marketing <br />^ The billboard campaign is still ongoing and the billboards have been updated. <br />This campaign is scheduled to expire in July 2010. <br />^ The 2010 Marketing Agreement with Charlotte Motor Speedway was finalized <br />and includes additional opportunities such as closed circuit TV promos and <br />ticket back advertising. <br />^ Total Expenditure was under budget by $236,619 in the 3rd Qtr. <br />Excess of Revenues <br />^ Total Revenues over Expenditures YTD is $273,951; however, when you <br />reduce the variance by $197,515 to account for the Sports Development <br />Facility Funding the total Variance of Revenues over Expenditures is $76,436. <br />Notes <br />^ The Bureau is completing its FY 2010/2011 budget and it will be presented to <br />the Commissioners at the June session. <br />Attachment number 1 <br />I-1 Page 153 <br />